UNH Options History — February 2021

In February 2021, UNH traded between $324.08 and $339.99. ATM implied volatility averaged 27.9%, placing in the 6.0% IV rank vs the trailing year. The 30-day expected move averaged 8.0%. IV traded above realized volatility by 5.1% (HV 20d: 22.8%). Max pain ranged from $330.00 to $340.00. Net GEX was positive for 11 of 19 trading days. Term structure was in contango for 16 of 19 days. Put/call ratio averaged 0.81.

Notable Days

2021-02-09: Highest Volume — 28,177 contracts
2021-02-25: Largest IV spike — 8.2% change
2021-02-25: Highest IV Rank — 8.9%
2021-02-25: Largest Expected Move — 8.5%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$330.41	$324.08	$339.99	$335.48	$334.22
Max Pain	$331.58	$330.00	$340.00	$340.00	$330.00
ATM IV	27.9%	26.3%	30.1%	29.9%	28.6%
Expected Move	8.0%	7.4%	8.5%	8.3%	8.3%
HV 20d	22.8%	20.2%	24.8%	24.2%	20.2%
HV 60d	20.8%	19.6%	27.9%	27.9%	20.4%
IV Rank	6.0%	3.8%	8.9%	8.6%	6.9%
IV Percentile	22.4%	6.7%	42.9%	39.3%	30.2%
Term Structure	0.6%	-0.2%	1.7%	1.3%	0.1%
VWIV	28.4%	25.7%	29.9%	29.9%	29.0%
Skew 25d	3.2%	2.0%	4.2%	3.6%	4.1%
Skew 10d	6.9%	4.8%	9.5%	9.5%	8.2%
Call IV 25d	26.8%	25.4%	29.4%	28.9%	26.8%
Put IV 25d	30.0%	28.2%	32.4%	32.4%	30.9%
Bid-Ask Spread %	52.48	31.14	62.44	53.35	53.76
Gamma HHI	0.08	0.06	0.20	0.06	0.10
Net GEX	-490.2K	-67.3M	51.6M	-3.6M	51.6M
Net DEX	-140.8M	-457.8M	310.5M	-86.1M	-457.8M
Net VEX	-5.9M	-6.4M	-5.2M	-5.3M	-6.3M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.81	0.38	1.44	1.05	0.42
Total Volume	16,486.632	6,978	28,177	6,978	19,931
Total OI	149,662.158	121,961	168,694	121,961	151,666

Daily Data (19 trading days)

Date	Price	Max Pain	ATM IV	Exp Move	HV 20d	IV Rank	VWIV	Skew 25d	Term Str	GEX	DEX	VEX	P/C	Spread %	Call Vol	Put Vol	Call OI	Put OI
2021-02-01	$335.48	$340.00	29.9%	8.3%	24.2%	8.6%	29.9%	3.6%	1.3%	-3.6M	-86.1M	-5.3M	1.05	53.35	3,400	3,578	60,979	60,982
2021-02-02	$339.99	$340.00	28.7%	7.5%	24.8%	7.0%	26.9%	4.0%	0.5%	6.4M	-227.5M	-5.4M	0.69	53.12	6,417	4,401	63,037	63,437
2021-02-03	$338.78	$340.00	27.1%	7.5%	24.7%	4.9%	25.7%	4.1%	1.1%	952.4K	-171.8M	-5.3M	0.81	58.07	7,141	5,790	65,893	65,460
2021-02-04	$329.62	$330.00	27.5%	8.1%	22.5%	5.5%	29.0%	4.2%	1.6%	-38.6M	138.7M	-5.2M	0.80	56.27	11,008	8,770	68,692	67,056
2021-02-05	$324.38	$330.00	27.7%	8.3%	20.7%	5.6%	29.8%	2.8%	1.7%	-67.3M	310.5M	-5.3M	0.98	56.04	13,776	13,560	73,796	69,779
2021-02-08	$324.08	$330.00	27.0%	8.2%	20.8%	4.8%	29.8%	2.9%	0.9%	-26.8M	170.5M	-5.5M	0.62	57.99	10,902	6,735	72,983	70,686
2021-02-09	$330.21	$330.00	26.6%	7.8%	22.5%	4.3%	28.4%	2.1%	0.6%	-3.4M	-125.5M	-5.7M	0.59	56.58	17,744	10,433	76,989	74,590
2021-02-10	$333.99	$330.00	27.9%	8.3%	23.1%	6.0%	29.0%	2.0%	1.4%	12.3M	-328.0M	-5.9M	0.38	54.95	17,202	6,586	80,445	79,097
2021-02-11	$333.10	$330.00	27.9%	8.1%	23.1%	6.0%	27.9%	3.1%	0.3%	11.2M	-332.8M	-6.4M	0.56	56.87	7,581	4,238	85,539	81,215
2021-02-12	$328.29	$330.00	27.9%	8.0%	23.2%	6.0%	28.4%	3.2%	-0.1%	-12.9M	-75.6M	-6.3M	1.01	55.80	6,068	6,158	85,463	82,547
2021-02-16	$324.09	$330.00	28.2%	8.1%	23.4%	6.4%	29.0%	3.2%	0.4%	-31.0M	77.2M	-5.9M	1.44	62.44	9,810	14,157	80,567	79,527
2021-02-17	$326.78	$330.00	27.7%	7.9%	23.6%	5.7%	28.6%	3.4%	0.4%	-6.1M	-78.8M	-6.1M	0.92	61.29	6,497	5,987	84,668	79,713
2021-02-18	$329.35	$330.00	27.2%	7.7%	23.9%	5.0%	28.0%	2.9%	0.7%	7.3M	-204.1M	-6.1M	0.79	31.14	7,070	5,567	86,664	80,364
2021-02-19	$325.96	$330.00	26.3%	7.4%	23.2%	3.8%	27.2%	2.8%	1.1%	7.2M	-36.6M	-6.1M	1.11	54.67	8,538	9,513	87,309	81,385
2021-02-22	$327.97	$330.00	27.9%	7.8%	22.7%	6.0%	27.9%	3.9%	0.2%	10.2M	-228.3M	-6.1M	0.40	45.53	9,097	3,682	69,453	71,716
2021-02-23	$330.46	$330.00	28.0%	7.9%	23.0%	6.1%	27.6%	3.7%	0.1%	22.7M	-337.4M	-6.2M	0.49	43.66	12,082	5,926	72,747	72,983
2021-02-24	$332.27	$330.00	27.9%	7.7%	23.0%	5.9%	27.2%	2.5%	-0.1%	31.8M	-409.3M	-6.2M	1.41	42.63	5,016	7,083	73,920	73,365
2021-02-25	$328.68	$330.00	30.1%	8.5%	20.6%	8.9%	29.8%	2.4%	-0.2%	18.9M	-271.9M	-6.3M	0.83	42.88	6,466	5,336	74,496	74,373
2021-02-26	$334.22	$330.00	28.6%	8.3%	20.2%	6.9%	29.0%	4.1%	0.1%	51.6M	-457.8M	-6.3M	0.42	53.76	14,076	5,855	75,244	76,422